FX broker fined £86k for failing to protect client money

ActivTrades did not ensure client money was fully segregated between 14 April 2009 and 2 September 2010, which put some of it at risk should the firm become insolvent, the FSA found. In this period ActivTrades held between £3.4m and £23.6m of clients money, at an average amount of £12.2m. Under the FSA's client money rules, firms must keep client money separate from the firm's in segregated accounts with trust status, in order to safeguard and ring-fence the client money in the event of the firm's insolvency. ActivTrades' failures were discovered as part of an FSA thematic review i...